{"id":377666,"date":"2019-04-09T00:00:21","date_gmt":"2019-04-09T00:00:21","guid":{"rendered":"https:\/\/wncen.com\/?p=377666"},"modified":"2024-06-11T07:18:17","modified_gmt":"2024-06-11T07:18:17","slug":"analyst-bitcoin-btc-likely-to-pump-once-more-before-significantly-retracing","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/analyst-bitcoin-btc-likely-to-pump-once-more-before-significantly-retracing\/","title":{"rendered":"Analyst: Bitcoin (BTC) Likely to Pump Once More Before Significantly Retracing"},"content":{"rendered":"<p>Bitcoin has been able to maintain nearly all of its recent gains it has incurred over the past week and has been able to maintain stability around its monthly highs of $5,300. This positive BTC price action has led to an influx of capital into other cryptocurrencies, generating gains that have led many analysts to declare the \u201c<a href=\"https:\/\/wncen.com\/2019\/02\/15\/grayscale-secured-237-million-institutional-crypto-investment-during-2018\/\">Crypto Winter<\/a>\u201d over.<\/p>\n<p>Despite the celebrations regarding the end of a long and arduous bear trend in the crypto markets, one prominent analyst believes that it is still too early to get excited, as Bitcoin may make one more large upwards push before hitting a significant resistance level that will lead to what he describes as a \u201csignificant retrace.\u201d<\/p>\n<h2><strong>Bitcoin (BTC) Stable at $5,300<\/strong><strong>\u00a0<\/strong><\/h2>\n<p>At the time of writing, <a href=\"https:\/\/wncen.com\/2019\/03\/21\/crypto-bitcoin-ethereum-ripple-litecoin\/\">Bitcoin<\/a> is trading up nearly 2% at its current price of $5,240 and is only trading down slightly from its recently established highs of $5,300. BTC is currently up significantly from its monthly lows of $3,800.<\/p>\n<p>Although Bitcoin is showing few clear signs of making any bearish price movements in the near-future, Josh Olszewicz, a popular cryptocurrency analyst on Twitter, recently explained that he does see a bear division building over a higher time zone.<\/p>\n<blockquote><p>\u201c4h $BTC: as others are point out&#8230; RW + bear div building into high TF res\u2026 50% = $4750,\u201d he concisely noted, bearishly explaining that a retrace towards $4,750 could be imminent.<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">4h <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a><\/p>\n<p>as others are point out&#8230;<\/p>\n<p>RW + bear div building into high TF res<\/p>\n<p>50% = $4750 <a href=\"https:\/\/t.co\/DNuP8OA83I\" rel=\"nofollow\">pic.twitter.com\/DNuP8OA83I<\/a><\/p>\n<p>&mdash; #333kByJuly2025 (@CarpeNoctom) <a href=\"https:\/\/twitter.com\/CarpeNoctom\/status\/11078656?ref_src=twsrc%5Etfw\" rel=\"nofollow\">April 8, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Despite this, Olszewicz further added that Bitcoin could very well continue to surge, drawing a parallel between BTC\u2019s current price action and Litecoin\u2019s overwhelmingly bullish price action last month.<\/p>\n<blockquote><p>\u201cImportant to note that probability of reversal is high, but continuation is not impossible. $LTC had the same setup last month and just kept going. I&#8217;ll be closing longs up here and won\u2019t be short, would much rather have bids on the book than get bulldozed by bull continuation,\u201d he explained.<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">important to note that probability of reversal is high but continuation is not impossible<a href=\"https:\/\/twitter.com\/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$LTC<\/a> had the same setup last month and just kept going<\/p>\n<p>i&#39;ll be closing longs up here and wont be short, would much rather have bids on the book than get bulldozed by bull continuation<\/p>\n<p>&mdash; #333kByJuly2025 (@CarpeNoctom) <a href=\"https:\/\/twitter.com\/CarpeNoctom\/status\/94825216?ref_src=twsrc%5Etfw\" rel=\"nofollow\">April 8, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><strong>Analyst: BTC Will Surge One More Time Before Retracing<\/strong><strong>\u00a0<\/strong><\/h2>\n<p>Although Bitcoin may be laying the groundwork for continuation of its recent bullish price action, one analyst believes that <a href=\"https:\/\/wncen.com\/2019\/03\/29\/bitcoin-btc-nearing-key-battle-zone-as-upwards-momentum-continues\/\">BTC<\/a> will see a significant retrace in the near-future.<\/p>\n<p>Lucid TA, another popular crypto analyst on Twitter, recently explained this postulation, saying that he expects the cryptocurrency to make one more push upwards towards $5,800 before it faces significant resistance that pushes it back down towards $4,500.<\/p>\n<blockquote><p>\u201cMost likely scenario in my view is that we see another pump before a significant retracement. Modestly on $BTC (around $5550 on Coinbase), though *much* more significantly so on alts. Invalidated if $5052 breaks (CB),\u201d he said.<\/p><\/blockquote>\n<p>https:\/\/twitter.com\/Lucid_TA\/status\/54087424<\/p>\n<p>As the week continues on and the market\u2019s price action continues to unfold, traders will hopefully gain a better understanding of whether or not the long-lasting \u201cCrypto Winter\u201d is truly over, or if the bears still have more ammunition to push the markets lower.<\/p>\n<pre>Featured image from Shutterstock.<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has been able to maintain nearly all of its recent gains it has incurred over the past week and has been able to maintain stability around its monthly highs of $5,300. This positive BTC price action has led to an influx of capital into other cryptocurrencies, generating gains that have led many analysts to declare the \u201cCrypto Winter\u201d over. Despite the celebrations regarding the end of a long and arduous bear trend in the crypto markets, one prominent analyst believes that it is still too early to get excited, as Bitcoin may make one more large upwards push before hitting a significant resistance level that will lead to what he describes as a \u201csignificant retrace.\u201d Bitcoin (BTC) Stable at $5,300\u00a0 At the time of writing, Bitcoin is trading up nearly 2% at its current price of $5,240 and is only trading down slightly from its recently established highs of $5,300. BTC is currently up significantly from its monthly lows of $3,800. Although Bitcoin is showing few clear signs of making any bearish price movements in the near-future, Josh Olszewicz, a popular cryptocurrency analyst on Twitter, recently explained that he does see a bear division building over a higher time zone. \u201c4h $BTC: as others are point out&#8230; RW + bear div building into high TF res\u2026 50% = $4750,\u201d he concisely noted, bearishly explaining that a retrace towards $4,750 could be imminent. 4h $BTC as others are point out&#8230; RW + bear div building into high TF res 50% = $4750 pic.twitter.com\/DNuP8OA83I &mdash; #333kByJuly2025 (@CarpeNoctom) April 8, 2019 Despite this, Olszewicz further added that Bitcoin could very well continue to surge, drawing a parallel between BTC\u2019s current price action and Litecoin\u2019s overwhelmingly bullish price action last month. \u201cImportant to note that probability of reversal is high, but continuation is not impossible. $LTC had the same setup last month and just kept going. I&#8217;ll be closing longs up here and won\u2019t be short, would much rather have bids on the book than get bulldozed by bull continuation,\u201d he explained. important to note that probability of reversal is high but continuation is not impossible$LTC had the same setup last month and just kept going i&#39;ll be closing longs up here and wont be short, would much rather have bids on the book than get bulldozed by bull continuation &mdash; #333kByJuly2025 (@CarpeNoctom) April 8, 2019 Analyst: BTC Will Surge One More Time Before Retracing\u00a0 Although Bitcoin may be laying the groundwork for continuation of its recent bullish price action, one analyst believes that BTC will see a significant retrace in the near-future. Lucid TA, another popular crypto analyst on Twitter, recently explained this postulation, saying that he expects the cryptocurrency to make one more push upwards towards $5,800 before it faces significant resistance that pushes it back down towards $4,500. \u201cMost likely scenario in my view is that we see another pump before a significant retracement. Modestly on $BTC (around $5550 on Coinbase), though *much* more significantly so on alts. Invalidated if $5052 breaks (CB),\u201d he said. https:\/\/twitter.com\/Lucid_TA\/status\/54087424 As the week continues on and the market\u2019s price action continues to unfold, traders will hopefully gain a better understanding of whether or not the long-lasting \u201cCrypto Winter\u201d is truly over, or if the bears still have more ammunition to push the markets lower. Featured image from Shutterstock.<\/p>\n","protected":false},"author":499,"featured_media":376614,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1119,6664],"class_list":["post-377666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btc","tag-crypto"],"acf":[],"yoast_head":"\n<title>Analyst: Bitcoin (BTC) Likely to Pump Once More Before Significantly Retracing<\/title>\n<meta name=\"description\" content=\"One prominent analyst believes that Bitcoin (BTC) will make one more upwards push before hitting a resistance level that will lead to a significant retrace.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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